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Staffing 360 announces plans in shareholder letter

August 17, 2015

Staffing 360 Solutions Inc. (OTCBB: STAF) today released its quarterly letter to shareholders from Executive Chairman Brendan Flood, providing shareholders with an update on current business initiatives and insight into management's expectations.

The letter also listed primary objectives, which include uplisting to a national exchange.

Four primary objectives:

  • Push forward with its “Pathway to Profitability” initiative
  • Drive the capital raising process for acquisition purposes
  • Impart company message (the firm recently engaged PCG Advisory Group as its corporate and investor awareness firm of record)
  • Uplist to a national exchange as soon as all listing requirements are met

Staffing 360 last month acquired Lighthouse Placement Services LLC, an engineering staffing provider serving eastern Massachusetts and southern New Hampshire. The firm said it has a pipeline of potential acquisition targets with combined revenues in excess of $500 million, including prospects under signed letters of intent.

Staffing 360 this month reported acquisitions helped boost sales to $32.2 million in its fiscal fourth quarter ended May 31 from $24.6 million in the same quarter of the previous year.